Upside case
Bull case
—
The bull case requires both strong earnings delivery and the market pricing SYRE more generously than it does today.
Analysis OverviewBuyUpdated May 1, 2026
Spyre Therapeutics, Inc. (SYRE) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
10
analysts
10 bullish · 0 bearish · 10 covering SYRE
Strong Buy
0
Buy
10
Hold
0
Sell
0
Strong Sell
0
Consensus Target
$82
+12.2% vs today
Scenario Range
— – —
Model bear to bull value window
Coverage
10
Published analyst ratings
Valuation Context
—
Forward P/E · Market cap $25.3B
SYRE price targets
Three scenarios for where SYRE stock could go
Current
~$73
Confidence
—
Updated
May 1, 2026
Market caseClosest to today
Base case
—
The base case reflects analyst consensus expectations — steady delivery without requiring a major catalyst or re-rating.
Stress case
Bear case
—
The bear case reflects a scenario where earnings shortfalls or multiple compression combine to materially reduce the stock from its current level.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Spyre Therapeutics, Inc.
SYRE · NASDAQHealthcareBiotechnology
Spyre Therapeutics is a preclinical-stage biotechnology company developing novel antibody therapies for inflammatory bowel disease. It currently generates no revenue from product sales — its funding comes from equity financing and potential future milestone payments from partnerships — and will rely on commercializing its pipeline candidates if they gain regulatory approval. The company's key advantage lies in its combination antibody approach targeting multiple IBD pathways simultaneously, which could offer superior efficacy over single-target therapies.
Market Cap
$25.3B
Revenue TTM
$90M
Net Income TTM
-$179M
Net Margin
-198.3%
SYRE Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
50%Exceptional
12 quarters tracked
Revenue Beat Rate
75%Exceptional
vs consensus estimates
Avg EPS Surprise
-109.6%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q2 2025
Q3 2025
Q4 2025
Q1 2026
Last 4 Quarters
EPS beats: 3 of 4Q2 2025
EPS
$-0.74/$-0.76
Revenue
—/—
Q3 2025
EPS
$-0.49/$-0.73
Revenue
—/—
Q4 2025
EPS
$-0.15/$-0.68
Revenue
—/—
Q1 2026
EPS
$-0.70/$-0.66
Revenue
$90M/$143M
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q2 2025 | $-0.74/$-0.76 | +2.6% | —/— | — |
| Q3 2025 | $-0.49/$-0.73 | +32.9% | —/— | — |
| Q4 2025 | $-0.15/$-0.68 | +77.9% | —/— | — |
| Q1 2026 | $-0.70/$-0.66 | -6.1% | $90M/$143M | -36.7% |
Next Earnings
May 14, 2026
Expected EPS
$-0.66
Expected Revenue
$71M
SYRE beat EPS estimates in 3 of 4 tracked quarters. A strong delivery record supports forward estimate credibility.
SYRE Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2023
Total disclosed revenue $0
Product Mix
Latest annual revenue by segment or product family
License
—
YoY unavailable
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Segment breakdown not available for this company.
License is the largest disclosed segment at — of FY 2023 revenue, with no year-over-year comparison yet.
SYRE Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Relative Valuation
Benchmark comparison across market, sector, and history below.
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
SYRE
-36.9x
vs
S&P 500
25.2x
246% discount
vs Healthcare Trailing P/E
SYRE
-36.9x
vs
Healthcare
22.1x
266% discount
vs SYRE 5Y Avg P/E
Today
-36.9x
vs
5Y Average
—
Benchmark unavailable
Forward PE
—
S&P 500
19.1x
—
Healthcare
19.0x
—
5Y Avg
—
—
Trailing PE
-36.9x
S&P 500
25.2x
-246%
Healthcare
22.1x
-266%
5Y Avg
—
—
PEG Ratio
—
S&P 500
1.75x
—
Healthcare
1.52x
—
5Y Avg
—
—
EV/EBITDA
—
S&P 500
15.3x
—
Healthcare
14.1x
—
5Y Avg
—
—
Price/FCF
—
S&P 500
21.3x
—
Healthcare
18.7x
—
5Y Avg
—
—
Price/Sales
—
S&P 500
3.1x
—
Healthcare
2.8x
—
5Y Avg
16.5x
—
Dividend Yield
—
S&P 500
1.88%
—
Healthcare
1.40%
—
5Y Avg
—
—
| Metric | SYRE | S&P 500 | Healthcare | 5Y Avg SYRE |
|---|---|---|---|---|
| Forward PE | — | 19.1x | 19.0x | — |
| Trailing PE | -36.9x | 25.2x-246% | 22.1x-266% | — |
| PEG Ratio | — | 1.75x | 1.52x | — |
| EV/EBITDA | — | 15.3x | 14.1x | — |
| Price/FCF | — | 21.3x | 18.7x | — |
| Price/Sales | — | 3.1x | 2.8x | 16.5x |
| Dividend Yield | — | 1.88% | 1.40% | — |
SYRE trades above S&P 500 benchmarks on 0 of 1 measured multiples — appears modestly priced relative to the S&P 500 on most measures.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolSYRE Financial Health
Verdict
Stressed
Key financial metrics for SYRE are shown below.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$90M
Revenue Growth
TTM vs prior year
—
Gross Margin
Gross profit as a share of revenue
—
Operating Margin
Operating income divided by revenue
-222.8%
Net Margin
Net income divided by revenue
-198.3%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$-0.52
Free Cash Flow (TTM)
Cash generation after capex
-$128M
FCF Margin
FCF as share of revenue — the primary cash quality signal
-141.7%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
-29.7%
ROA
Return on assets, trailing twelve months
-27.8%
Cash & Equivalents
Liquid assets on the balance sheet
$86M
Net Cash
Cash exceeds total debt — no net leverage
$86M
Debt Serviceability
Net debt as a multiple of annual free cash flow
Net cash ✓
ROE *
Return on equity, trailing twelve months
-31.2%
* Elevated by buyback-compressed equity — compare ROIC (-29.7%) for an undistorted picture of capital efficiency.
Shareholder Returns
How capital is returned to owners
Total shareholder yield
0.0%
Dividend
—
Buyback
0.0%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$0
Dividend / Share
Annualized trailing dividend per share
—
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Current diluted share count
346M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt). ROE marked * where buyback-compressed equity base may inflate the figure.
Open full ratios pageSYRE Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
Based on the latest company results, valuation, and market data
Medium
Valuation de-rating
SYRE trades at -36.9x trailing earnings versus 25.2x for the S&P 500 and 22.1x for its sector. If earnings delivery or sentiment slips, the stock could re-rate lower and move closer to the bear case target of —.
Lower
Capital return support
Part of the per-share support comes from capital returns, backed by -$128M in trailing free cash flow, a 0.0% buyback yield. If cash generation softens, the EPS lift and downside cushion from repurchases can narrow.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why SYRE Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
Based on recent company results and analyst estimates
High-margin cash engine
Spyre Therapeutics, Inc. already operates from a position of scale, with — gross margin, -222.8% operating margin, and -$128M in trailing free cash flow. That combination gives management room to keep funding product investment without relying on outside capital.
License still matters
License accounts for — of disclosed revenue. When the biggest revenue lines are still holding up, even modest execution improvement can translate into meaningful earnings leverage.
Upside and capital returns align
Consensus still points to $82, or 12.2% upside, while the modeled bull target reaches —. If — in forward revenue and — in EPS are delivered, ongoing shareholder returns running at 0.0% can amplify the equity upside.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
SYRE Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$73.00
52W Range Position
95%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$12.29
+494.0% from the low
52-Week High
$76.00
-3.9% from the high
1 Month
+49.04%
3 Month
+107.86%
YTD
+138.7%
1 Year
+483.5%
3Y CAGR
+164.4%
5Y CAGR
-16.7%
10Y CAGR
-10.4%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
SYRE vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
—
vs 26.4x median
Peer median unavailable
Revenue Growth
—
vs +8.1% median
Peer median unavailable
Net Margin
-198.3%
vs -326.9% median
+39% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
SYR SYRE Spyre Therapeutics, Inc. | $25.3B | — | — | -198.3% | Buy | +12.2% |
ARR ARRY Array Technologies, Inc. | $1.2B | 11.6x | +17.1% | -5.6% | Buy | +12.9% |
PRT PRTA Prothena Corporation plc | $602M | 45.3x | +95.7% | -2520.6% | Buy | +69.9% |
TRM TRMB Trimble Inc. | $15.0B | 20.5x | -0.9% | 12.4% | Buy | +49.8% |
PTG PTGX Protagonist Therapeutics, Inc. | $6.6B | 32.2x | -7.2% | -648.3% | Buy | +12.3% |
TER TERN Terns Pharmaceuticals, Inc. | $4.6B | — | — | — | Buy | +4.9% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
FAQ
6 questionsSYRE Investor Questions
Common questions answered from live analyst data and company financials.
01Is Spyre Therapeutics, Inc. (SYRE) stock a buy or sell in 2026?
Spyre Therapeutics, Inc. (SYRE) is rated Buy by Wall Street analysts as of 2026. Of 10 analysts covering the stock, 10 rate it Buy or Strong Buy, 0 rate it Hold, and 0 rate it Sell or Strong Sell. The consensus 12-month price target is $82, implying +12.2% from the current price of $73.
02What is the SYRE stock price target for 2026?
The Wall Street consensus price target for SYRE is $82 based on 10 analyst estimates. The high-end target is $106 (+45.2% from today), and the low-end target is $49 (-32.9%).
03Is Spyre Therapeutics, Inc. (SYRE) stock overvalued in 2026?
Forward earnings data for SYRE is not currently available. Review the valuation table above for trailing P/E, EV/EBITDA, and price-to-sales comparisons against market and sector benchmarks.
04What are the main risks for Spyre Therapeutics, Inc. (SYRE) stock in 2026?
The primary risks for SYRE in 2026 are: (1) Valuation de-rating — SYRE trades at -36. (2) Capital return support — Part of the per-share support comes from capital returns, backed by -$128M in trailing free cash flow, a 0. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05When does Spyre Therapeutics, Inc. (SYRE) report its next earnings?
Spyre Therapeutics, Inc. is expected to report its next earnings on approximately 2026-05-14. Consensus expects EPS of $-0.66 and revenue of $71M. Over recent quarters, SYRE has beaten EPS estimates 50% of the time.
06How much free cash flow does Spyre Therapeutics, Inc. generate?
Spyre Therapeutics, Inc. (SYRE) had a free cash outflow of $128M in free cash flow over the trailing twelve months — a free cash flow margin of 141.7%. SYRE returns capital to shareholders through and share repurchases ($0 TTM).